Swedish Tech Weekly #334: Weissr, Ortrac, Stockeld Dreamery, Aimabel, ZAVER, Oddiko, VERA, Lumoo Studio, Revelate, SaveMeal, Leet, Circulaire, Happie Camp, Epidemic Sound, Incore Invest, Daya Ventures, and more

Welcome to the latest from Sweden's startup & tech sector.

I'm Martin Weigert. Every Monday morning, Swedish Tech Weekly brings you a selection of some of the news I previously covered in my PRO newsletters, which are available as daily and weekly version.

Today's newsletter was sent to 3148 subscribers.

• Monterro, Swedish B2B software growth investor, has acquired a majority stake in Weissr, a Gothenburg-based all-in-one software for all capex objectives (English).

• Ortrac (Gothenburg, edtech company providing technology to support and facilitate clinical training and assessment world-wide) is being acquired by Swedish niche software acquirer Marathon Software (English).

• The assets and IP of Stockeld Dreamery, Stockholm-founded plant-based cheese startup, were acquired by US industry peer Bettani Farms (formerly Climax Foods) (English, Swedish).

• The bankruptcy estate of Aimabel, AI-powered platform for sustainable strategy and reporting, was acquired by the startup's founder Petter Palander, and operations have restarted (Swedish / Impact Loop paywall).

• Matilda FoodTech (Malmö, B2B platform connecting all functions of the meal process) has acquired UK-based foodservice industry product data platform Erudus (English).

• Swedish PE firm EQT is acquiring a majority stake in Australia-based cloud-native proptech platform PropertyMe (English).

Startup Recruitment is a leading recruitment partner for startups, scaleups, and industry leaders — combining AI-driven precision with human expertise.

We connect companies with AI-empowered talent that leverages their business and accelerates growth.

Whether you need headhunting or interim recruiters, we help you hire your business-critical team members — fast, and without compromising on quality.

👉 startuprecruitment.se

Send press releases about funding rounds, and other potentially relevant news, to news@swedishtechnews.com.

• One-Carbon Therapeutics (Stockholm, pioneering first-in-class cancer therapies): SEK153M (€13.9M, $16.3M) from existing and new investors, including Swedish family offices (English).

• Zaver (Stockholm, payments technology company): SEK123M (€11M, $13M) from Öhman, Neudi & Co, and existing investors (English, Swedish / Di Digital paywall).

• Oddiko (Gothenburg, game studio): SEK8M (€730K, $850K) from the founders of game studio Arrowhead (Swedish, machine translation).

• VERA, previously Voltic (Karlskrona, systems for intelligent control and optimization of energy flows): SEK6.2M (€570K, $660K) from Almi Invest and other undisclosed investors (details page).

• Lumoo Studio (Stockholm; centralized AI-native content creation platform for fashion and retail brands): SEK6M (€550K, $640K) angel round from Lovable co-founder and CEO Anton Osika, among others. Lumoo's product is said to have been completely created using Lovable (English, Swedish / Breakit paywall). ➡️ Startup first covered in PRO on April 7

• Revelate (Stockholm, commission management software built for RevOps): undisclosed amount in a pre-seed funding round led by Gorilla Capital (details page). ➡️ Startup first covered in PRO in July 2024

I covered many more funding rounds, and more details for each, in Swedish Tech News PRO last week.

Startup founders: Request free access to my funding and investor database. Useful during your fundraising process.

A unique package with high quality curated data and information on Swedish tech startups.

• I've published the monthly update to the Leaderboards featuring Sweden's most active startup investors (English).

• Ten Swedish startups and companies were selected for the second accelerator program for civil-military innovation initiated jointly by the Swedish Armed Forces and Vinnova, operated by LEAD (Swedish, machine translation).

• SaveMeal, a new startup from Malmö, launched in its home town, offering a platform and app for real-time dining deals from restaurants nearby. ➡️ Startup first covered in PRO on August 25.

• Leet, based in Stockholm, has launched its AI chat app to create interactive live sessions. ➡️ Startup first covered in PRO in February

• Circulaire, Stockholm-based platform for AI-powered second-hand market data, recently launched an iPhone app which allows collectors, sellers, and everybody else to get an estimated valuation of an item, based on a photo (English).

• Nordic Air Defence, Stockholm-based defense tech startup, announced former Swedish foreign minister Tobias Billström as Director of Strategy and Government Affairs (English, Swedish).

• Happie Camp, Karlstad-based online service for booking accommodation in pre-rigged camps along the Swedish countryside, is bankrupt (Swedish / Impact Loop paywall) ➡️ More Swedish startups that reached the end of their life cycle covered in PRO last week.

• Lovable reportedly plans to launch an app store for products built using its platform and take a cut from developers (English / Sifted paywall).

• Epidemic Sound, Stockholm-based music licensing provider for creators, has filed a second copyright infringement lawsuit against Meta, alleging that the tech giant continues to infringe the music company’s catalog across Facebook, Instagram and WhatsApp (English).

• Spotify launched its annual year-in-review feature, Spotify Wrapped, and says it "saw over 200 million engaged users within the first 24 hours" (English).

• Nothing, the London-based hardware startup founded by Swedish entrepreneur Carl Pei, is letting its user base buy its stock as part of a new community investment round of $5M, following a recent $200M Series C round (English).

• KTH Innovation and KTH Ventures are again looking for venture builders and potential co-founders for their deeptech program Pioneer (English).

• Sting published its Progress Report 2024/2025. The Stockholm-based accelerator/incubator/startup ecosystem is approaching the milestone of 500 supported startups since 2002 (English).

• Tillväxtverket is shutting down swedishcleantech.se and swedishcleantech.com after ten years (Swedish, machine translation).

• A look inside Angel House – Nordic Angels' recently opened private members' club for angel investors – and interview with CEO and co-founder Lisa Grape (English).

• Incore Invest, Stockholm-headquartered VC firm focused on fintech startups in Europe, raised €15M in a second closing of its second fund, bringing total committed capital to €40M (English). ℹ️ Recent Swedish investments (PLUS/PRO)

• Daya Ventures, Gothenburg-based femtech venture studio, raised €650K through an equity crowdfunding round from 429 backers (English).

• Norrsken Evolve (formerly Norrsken Accelerator) promotes Ebba Forsberg to Investment Associate (English).

• 🎧 Podcast interview with Sara Rywe, Stockholm-based Partner at byFounders, on how the Nordic firm managed to become one of the two lead investors in Lovable's pre-seed round, hierarchy in VC, "spiky" founders, having a VC career while being a new parent, and more (English / 32 minutes).

• A defense and marine tech startup, founded by an experienced senior tech leader, raised a first yet-to-be-announced funding round

• A stealth startup founded by an experienced technical operator, has raised a first yet-to-be-announced funding round, to "make sense of software through living documents"

• A serial entrepreneur from southern Sweden has co-founded a new defense tech company

• A startup developing AI for audio devices, founded by a repeat founder and operators within the audiotech space, is currently raising a first €700K funding round

• Another Swedish startup aims to use AI agents to "transform how hardware is designed, produced, and distributed"

• Details on a stealth startup that was chosen for the most recent SSE Business Lab batch

• A startup offering a portfolio monitoring platform for active investors, is bankrupt

And much more. PRO is read by many of Sweden's best and most active startup investors. Service providers targeting startups also find it useful.

A non-exhaustive selection of open positions at Swedish tech startups.

• VP of Product (Volumental)
• Product Director (Yepstr)
• Senior Mechanical Design Engineer (with co-founder option) (Simplify Plastics)
• Talent Acquisition (Atlar)
• Fullstack Developer (Charma)
• Various incl. Junior AI-first Content Creator and Marketing & Growth Specialist (Lumoo Studio)
• E-commerce & Growth Lead (Mylla)
• Customer Success Manager (Billogram)
• Developer (Selfcheck)
• Technical Operations Manager (Rebaba)
• Commercial Growth Associate (EmbeDL)
• Various incl Senior Fullstack Engineer, Customer Success Specialist (Velory)
• Device Integration Engineer (SweGaN)
• Mechanical Engineer (APR Technologies)
• Forward Deployed Engineer (Lovable)
• Business Development Representative (Steep)
• Norwegian Speaking Customer Success Manager (Tendium)
• Valuation Assistant (Pantit)
• Senior Software Engineer (Profundus)

To the listings

Special shout-out to my partner Eivora for providing me with access to their awesome AI-powered ownership database of Swedish companies.

• VCs increasingly deploy "kingmaking" to crown AI winners in their infancy (English).

• Among the 100 fastest-growing AI-native startups, founders, team size, sales motion, and revenue velocity look very different from what was common for traditional SaaS (English).

• Forward Deployed Engineers have their "PLG moment" (English).

• Ginning up investor hype using shaky metrics won’t make a startup great. Founders should define their MRR/ARR in such a way they can make smart choices, faster (English).

• "ARR was great for the SaaS age, but it may be as relevant as a Commodore 64 for the AI software era" (English).

• On incorporating the idea of a declining population into one's thinking and investing as a VC (English).

• The share of Swedes who believe new technology contributes to a better future has fallen from 76% to 56% since 2020 (English).

• From January 1 it will be a criminal offense in Sweden to fly drones weighing 250 grams or more without a drone license (Swedish, machine translation).

• The Swedish police's use of drones for surveillance has sharply increased around the country. From 550 hours in 2018, to 16,000 hours in 2025 (English).

• The Stockholm School of Economics ranks #19 in the Financial Times' European Business School Rankings 2025 – an improvement from #23 last year (English).

• In December 2025, 2G and 3G networks will be shut down in Sweden. The country's Post and Telecom Authority (PTS) worries about a potential problem with emergency calls on certain phones that use 4G (English).

• White vehicles make up 19% of all cars registered in Sweden, representing the most common color. The least common color: purple (Swedish, machine translation).

• Sweden has passed the mark of 4,000 roundabouts (Swedish, machine translation).

• In 2024, approximately 99,000 children were born in Sweden, which is the lowest number of newborns since 2003 (English, Swedish).

+++

That's it for this week. Thank you for being a subscriber!

Martin